Diversify Advisory Services LLC Invests $532,000 in Intercontinental Exchange Inc. $ICE

Diversify Advisory Services LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,580 shares of the financial services provider’s stock, valued at approximately $532,000.

Several other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares in the last quarter. BlackRock Inc. bought a new position in Intercontinental Exchange in the second quarter valued at about $6,245,085,000. USS Investment Management Ltd raised its stake in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its holdings in shares of Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ICE shares. Piper Sandler decreased their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, UBS Group reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Up 0.9%

Shares of NYSE:ICE opened at $158.68 on Friday. The firm has a market cap of $89.08 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The business has a fifty day simple moving average of $141.92 and a 200 day simple moving average of $151.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.81 EPS. Analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,709 shares of company stock valued at $2,646,042 in the last ninety days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.